Gold prices on Monday eased from a near two-week high, as a monetary policy intervention by China's central bank to limit the economic impact from the coronavirus outbreak reassured investors and boosted demand for higher-risk assets.

Spot gold fell 0.3% to $1,580.27 per ounce, as of 10:51 GMT. U.S. gold futures shed 0.2% at $1,583.30.

Gold earlier in the session was hovering near Friday's near two-week high of $1,584.65, but pared gains as global shares rose after China cut the interest rate on its medium term loans in an attempt to counteract the economic hit from the epidemic.

Source : Reuters